On \textit{Specimen theoriae novae de mensura sortis} of Daniel Bernoulli (Q6938513)

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scientific article; zbMATH DE number 8084662
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    On \textit{Specimen theoriae novae de mensura sortis} of Daniel Bernoulli
    scientific article; zbMATH DE number 8084662

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      On \textit{Specimen theoriae novae de mensura sortis} of Daniel Bernoulli (English)
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      25 August 2025
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      This historical survey is devoted to the paper \textit{Specimen theoriae novae de mensura sortis} (1738) by Daniel Bernoulli (1700--1782). It ``was one of the earliest applications of differential calculus in general, and certainly the first with significant economic content''. Also, it was ``the first published paper in which mathematics was applied to economics''.\N\NIn addition, one can note the following comment by the author: ``Considering that it (ed: mentioned Bernoulli's paper) predates Adam Smith's (1723--1790) \textit{An inquiry into the nature and causes of the wealth of nations} (1776), which is often taken as the birth of economics, we might argue that mathematics for economics existed before economics itself officially existed.''\N\NThe present survey consists of five sections including an introduction. The main considerations cover the following topics:\N\begin{itemize}\N\item[--] the remarkable Bernoulli family;\N\item[--] the scientific background of Bernoulli's paper including its economic and mathematical-cultural aspects;\N\item[--] the contents of the paper, as well as the debate which ensued;\N\item[--] the influence of Bernoulli's paper on later researches.\N\end{itemize}
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      expected utility theory
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      logarithmic utility
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      history of mathematics in the 18th century
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      \textit{Specimen theoriae novae de mensura sortis}
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